Introduction to Terex:

Terex is a global manufacturer of lifting and material handling solutions, serving various industries including construction, infrastructure, quarrying, recycling, energy, mining, shipping, transportation, refining, and utilities. The company's main business segments include high-altitude work platforms, construction, cranes, material handling and port solutions, and material processing. Terex has over 22000 employees and production facilities around the world. Terex provides financial products and services to assist in purchasing Terex equipment through Terex Financial Services.

Terex sub trademarks, engineering machinery products, and integration schedule:

The History of Terex

The above is an introduction to Terex and some of its products. If you want to learn about Terex, you must understand its history.

1933-1970

In 1933, the Armington brothers founded the Euclid Company, which was the predecessor of the Terex Corporation.

Euclid's success in designing and constructing haul trucks later caught the attention of General Motors, who purchased Euclid in 1953. The Euclid department of General Motors was responsible for developing and selling large equipment, and at that time, over half of the off highway dump trucks in the United States were sold by the Euclid department. However, Euclid's outstanding performance brought a negative outcome, as the US Department of Justice filed an antitrust lawsuit against General Motors, forcing it to stop producing and selling off highway trucks in the US for four years, and forcing the sale of some Euclid business and the Euclid brand. In 1970, General Motors created the name "Terex" for its construction equipment products and trucks that were not affected by the ruling. The word 'Terex' comes from the Latin words' terra '(earth) and' rex '(king). The retained new Terex business unit produces tracked vehicles, front-end loaders, and loaders.

Golfer Jack Nicklaus is hitting the ball from the "ball seat" on the Terex TS-24 cantilever loader

In the 1970s

After the Terex division of General Motors gradually grew and expanded, it invented and built the industry's most famous heavy construction equipment, including the world's first off-road trailer (1Z Trac Truk), the world's first dual power bulldozer (TC-12), and the world's largest truck Terex 33-19 "Titan" produced in the 1970s. The only Titan prototype produced was used until 1990 and is now displayed in Sparwood, British Columbia, near the mine it once served. Although its carrying capacity (370 tons) is not the world's largest, it is still the largest truck in the world in terms of size.

In the 1980s

The economic recession of the 1980s paid a price for Terex, and in 1981, General Motors sold Terex to IBH Holdings, owned by German businessman Dieter Esch. IBH Holdings went bankrupt during the global economic recession and declared bankruptcy in 1983. The ownership of Terex returned to General Motors and was adjusted to Terex Equipment Limited (TEL), a production branch located in Scotland, as well as Terex USA, a distributor of Terex products in the Western Hemisphere and equipment and parts manufacturer with a factory located in Hudson, Ohio.

In 1986, Northwest Engineering acquired the bankrupt Terex USA, a company purchased by American entrepreneur Randolph Lenz in the 1980s. At that time, Northwest Engineering's headquarters were located in Green Bay, Wisconsin.

When Northwest Engineering purchased Terex USA in 1986, the agreement included the option to purchase Terex Equipment Limited. Northwest Engineering made this choice in 1987. In the same year, Lenz extended the company's manufacturing business to Scotland. The following year, the company's name was changed to Terex Corporation.

In the following years of the 1980s, Terex made several acquisitions, including Koehring cranes and excavators (1987), Unit Rigs (1988), and Fruehauf Trailer (1989). The acquisition of Fruehauf alone has nearly doubled the scale of Terex.

1990-1995

In 1991, Terex was listed on the New York Stock Exchange.

In the early 1990s, Terex took a series of measures to improve its financial situation, including divesting Fruehauf and becoming an independent listed company.

CEO Woody Baldus passed away in the autumn of 1991. Randolph Lenz serves as Chairman and CEO. Ronald Defoe was hired in May 1992. Afterwards, Ronald Defoe joined Terex as the President of Heavy Equipment Group, located in Tulsa, Oklahoma.

In 1993, Terex Corporation relocated its office to Westport, Connecticut. Afterwards, in October 1993, Ronald Defoe was appointed as the President and Chief Operating Officer of Terex, and became a member of the Terex Board of Directors. In the face of the economic recession, Ronald Defoe began a bold restructuring of the Terex business and finances, including the establishment of additional funds, sale of assets, and business reorganization. Terex has taken important measures, including vigorously reversing Clark Material Handling and selling 28 million Fruehauf shares in the private market.

In 1995, Terex acquired PPM and later merged it with Koehring (now known as Waverly), consolidating Terex's position as a leading crane manufacturer and distributor.

In 1995, Randolph Lenz retired and Ronald Defoe became the CEO of the company.

From 1996 to 1999

In 1996, Terex sold the high cost forklift manufacturer Clark Material at a good price

Handling， As a result, Terex successfully overcame the difficulties by refinancing its debt and acquiring some profitable companies.

In 1998, Terex acquired Payhauler and O&K Mining and began developing its mining business. With the acquisition of American Crane, TerexLift, Peiner, and Gru Comedil, the crane business has also grown unprecedentedly.

Ronald Defoe has been appointed as the Chairman of the Board of Directors of Terex Corporation.

In the following years of the 1990s, Terex made several crucial acquisitions, including the acquisition of Powerscreen in 1999.

With the acquisition of Cedarapids, Re Tech, Powerscreen, and Finlay, Terex became a leading company in the crushing and screening industry in 1999.

2000 and 2001

In 2000, Terex acquired British tractor excavator loader manufacturer Fermec and began to enter the compaction equipment industry.

In 2001, with the acquisition of Jaques (crushing and screening), CMI (road construction), and Bid Wall, Terex established its road construction business. At that time, the acquisition of Atlas was also completed.

2002 was an important year for Terex as they acquired several companies, both large and small.

Demag Mobile Cranes (manufacturer of telescopic and truss arm cranes) has expanded the product range of Terex Cranes, making Terex a leading crane company.

Terex has acquired Genie, a leading manufacturer of aerial work platforms. The acquisition of Genie is also a crucial step as it introduced the Toyota Production System concept to Terex. Genie has incorporated this concept into her business and achieved great success. Terex realized that this was the time to apply these practices to all business areas. As a result, Terex established the Terex Business System, or TBS for short.

The acquisition of German manufacturers Schaeff and Fuchs has strengthened Terex's European construction machinery business.

Advance Mixer brings Terex into the concrete mixer business.

Finally, the acquisition of Pacific Utility and EPAC provided distribution for the company's owned Terex utilities.

2003-2004

In 2003, Terex acquired a controlling stake in TATRA, a manufacturer of commercial and military road/off road heavy vehicles.

In the same year, with the acquisition of Commercial Body and Combatec, Terex expanded its sales network for Terex utilities business.

From 2006 to 2010

2006 and 2007 were the years when Terex enjoyed success, with developing markets doubling in size.

In 2007, Terex ranked fourth among the best performing companies in the 2007 Barron's 500 survey and 314th on the Fortune 500 list. We sold Tatra this year.

In early 2008, Terex acquired small tracked loader manufacturer ASV.

In 2008, the company's six core values - The Terex Way - were officially established at the annual leadership meeting.

The global economic recession in 2008 severely affected Terex, with multiple markets experiencing significant declines. During this uncertain period, Terex focused on implementing cash management and inventory level management.

In 2009, Terex acquired the port equipment business of Fantuzzi and Noell, which is currently part of the crane division. Terex has established a global research and development center in India.

In 2010, Terex sold its mining business to Bucyrus International Inc. Terex also sold its Atlas business. In the same year, Terex developed its presence in the Chinese market, controlling 65% of the equity of Shandong Tuoneng Heavy Machinery Co., Ltd., a manufacturer of truss arm cranes, and establishing a joint venture with Southern Road Machinery (NFLG) to produce aggregate crushers and aggregate screening machines.

2011

Due to the continuous expansion of Terex's coverage in developing markets, the Terex India leadership team has been established as the decision-making body for issues related to the Indian market. The new leadership team will also manage Terex Latin America.

The ribbon cutting ceremony marks the official completion and opening of the new factory in Changzhou, China, adjacent to Shanghai. The new factory will serve as the product development, parts distribution, and service center for the aerial work platform department in China.

The skid steer loader from Terex Construction Machinery Department was named the "Best Product of 2011" by Equipment Today magazine.

GAZ Group and Terex Corporation have reached an agreement to establish a joint venture in Russia for the manufacturing, marketing, and sales of construction machinery and road construction equipment, and to distribute certain products produced and exported by Terex to Russia. The company will also export and sell certain construction and road building products from GAZ Group.

Terex was named one of the best companies to hire minority workers by Minority Engineer magazine.

A new Terex office located in Bangalore, India has been officially unveiled and established. The establishment of the new office will provide office space for team members from all business departments of Terex, Terex Financial Services, and Global Procurement.

Jehangir Ardeshir, the President and Managing Director of Trey India, lit a symbolic light for the opening of the Bangalore office.

In August 2011, Terex completed the acquisition of 82% of the shares of Demag Industries and Port Cranes, adding a new business unit to Terex, namely Material Handling and Port Solutions. In the industrial crane and hoist, port technology and service industries, Demag Industrial and Port Cranes has world-class products.

2012

In April 2012, a control and profit and loss statement transfer agreement was reached between Terex and Demag Industries and Port Cranes

(DPLA) takes effect. This paves the way for Terex to fully integrate Demag Industrial and Port Cranes, the fifth division of Terex Corporation.